Russia is willing to enhance cooperation with the Organization of Petroleum Exporting Countries(OPEC) and is interested in maintaining stable oil prices, President Dmitry Medvedev said here Wednesday.
"Cooperation with OPEC is a priority for our energy agencies and our energy policy in general," Medvedev said during a meeting with visiting OPEC Secretary General Abdallah El-Badri.
Russia has "good relations with OPEC and some of its members and intends to pursue these contacts," he was quoted as saying by Interfax news agency.
"The reason for that is absolutely obvious: Russia is also a large producer and exporter of oil and it is interested in maintaining stable, predictable oil prices," said Medvedev.
El-Badri, who had earlier met with Russian Energy Minister Sergei Shmatko in Moscow and Deputy Prime Minister Igor Sechin in Vienna, said they discussed the world oil and financial market in great detail.
"We believe the situation will not be so positive at the end of the year and at the beginning of next year," El-Badri said.
Earlier in the day, the OPEC secretary general told reporters he would not ask Russia to cut oil output, but would exchange information with Russian officials on the energy market and the global financial crisis.
In view of the sharp decline in oil prices, OPEC has decided to hold an emergency meeting Friday to seek solutions. Experts predict that the 12-member oil cartel may decide on a major output cut at this meeting.
Source:Xinhua
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